ARLINGTON, Va., April 30, 2018 /PRNewswire/ -- CareJourney, a leading provider of clinically-relevant analytics for value-based care delivery networks, today launched Network Advantage, a market assessment product that aids ACOs, hospital systems, and payers in optimizing delivery networks for quality and cost efficiency.
Network Advantage delivers value-based scoring of PCP, specialist, and facility performance based on patient-centric metrics including necessary care model compliance, risk-adjusted cost trends, risk segmentation, quality performance, episode efficiency, and unnecessary care reduction. Network Advantage uses evidence-based algorithms to assemble network performance reports, benchmarks at the regional and national level, and a network design "playground" to simulate and build custom networks.
"Our customers will be able to use Network Advantage to understand the performance of their network, analyze patient journeys, and benchmark their providers against peers in the region and nation, ultimately optimizing better networks of care," said CareJourney CEO Dan Ross. "Our solution offers in-depth analysis on the performance of the entire Medicare fee for service market from a value-based care perspective, and how a network's performance stacks up." The product will be available as an add-on to the CareJourney Platform, or as a standalone license.
"The ability to capture, understand and act on data is what drives improvements in healthcare," said CareJourney customer Tomas Gregorio, Senior Executive Director, Healthcare Delivery Systems iLab, New Jersey Innovation Institute. "CareJourney's Network Advantage product will provide a comprehensive view of our network's quality performance allowing us to make more informed and strategic decisions that create value for our providers, and better health outcomes for patients."
Network Advantage reports, simulations, and benchmarks are derived from a low latency CMS claims database spanning over 50 million Medicare beneficiaries from 2010-present, obtained via Innovator Research access to the Virtual Resource Data Center (VRDC). CareJourney applied for and was granted access at the approval of the CMS Institutional Review Board (IRB), with the goal of measuring the impact of value-based initiatives on Medicare cost and quality. CareJourney is one of a small number of entities to be awarded an Innovator Research seat on the VRDC, which will soon also include Medicare Advantage (Part C) encounter-level data.
CareJourney is a leading provider of clinically-relevant analytics for value-based networks. Headquartered in Arlington, VA, CareJourney currently supports over 50 ACOs across the US in achieving their shared savings goals by wringing new, high value insights out of claims data. Through its CareJourney Platform, CareJourney provides members with interactive dashboards of clinically-relevant insights around patient risk segmentation, necessary care compliance, spend and utilization trends, network leakage, low-value care, and provider and facility performance. Please visit us at www.carejourney.com as well as on LinkedIn, Twitter, and Facebook.